More than just the deposit. The cash you need at settlement is your deposit contribution plus government charges plus private/lender costs, minus your loan and any confirmed grants, and the government and private cost pieces are where most first-time buyers underestimate.
The four buckets
| Bucket | Includes |
|---|---|
| Government charges | Transfer/stamp duty (less any first-home concession), foreign purchaser surcharge if relevant, title/mortgage registration fees |
| Private/lender costs | Conveyancing, building & pest inspection, strata report, lender fees, valuation fee if charged, mortgage documentation, moving costs |
| Finance | Your loan amount, and whether LMI is capitalised into it or paid upfront in cash |
| Funds available | Savings, gift, FHSS release, confirmed grant (only once its settlement timing is confirmed), sale proceeds |
A worked example
A $700,000 established home in NSW, 90% LVR, not a first-home buyer: roughly $25,187 in transfer duty (before any concession), plus around $366 in transfer and mortgage registration fees, plus private costs typically in the $3,000–$5,000 range depending on conveyancing, inspections and lender fees. On top of the $70,000 deposit, that’s real money the deposit figure alone doesn’t show, which is exactly why “how much deposit do I have” and “how much cash do I need” are different questions.
These are illustrative figures for this specific example only, your own government charges depend on your state, property type and first-home status, and private costs depend on the professionals you use.
Where to get your actual number
Use the Funds Position tool to combine your purchase price, finance, confirmed government amounts, other purchase costs and confirmed support. It does not calculate changing government charges for you. Use the official government source or your conveyancer to obtain those amounts first.
What to prepare
- Your state, property type and purchase price
- Whether you’re a first-home buyer, and whether you qualify for any duty concession
- Quotes for conveyancing, inspections and any other private costs once you have them
- A clear picture of savings, gift and any confirmed grant
Next step: run the Funds Position calculator with your own figures, then talk with KartikKumar about anything that doesn’t look right.